KALAMAZOO, MI –Pfizer Inc. is reporting a 7 percent decrease in profits to $15.1 billion for the fourth quarter of 2012, which is better than expected after losing patent protection of its top-selling Lipitor cholesterol drug.

The company earned 47 cents per share for the fourth quarter, topping analysts expectations by about 3 percent, according to Reuters.

The company is reporting $59 billion in full-year revenue and the company forecast earning $56.2 to $58.2 billion in 2013, at $2.20 to $2.30 per share.

Lipitor sales plunged 71 percent in the quarter to $584 million, but strong sales in other medicines and emerging market revenue, which grew 20 percent from last year, helped offset the loss.

“Notable achievements during 2012 included approvals of five important new products in key markets, realizing significant value through the sale of our nutrition business and preparation for our potential initial public offering of up to a 19.8% stake in Zoetis,” said Ian Read, Chairman and Chief Executive Officer.

Analysts have speculated that the company’s spin off of Zoetis could indicate a company split.

Read said Pfizer’s operations in U.S. and Europe are already structured into separate units for new, brand-name drugs and generics, and the company could consider replicating the separated management structure in emerging markets, according to Bloomberg.